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Commercial exploitation is a form of invasion of privacy.
Any warranty that does not provide the complete protection of a full warranty is called
a warranty in breach.
Upon acceptance of a subscription after incorporation, the subscriber immediately
attains the rights, privileges, and liabilities of a shareholder, even though the subscriber
has not paid any of the purchase price.
An agreement between Jim and his 18-year-old daughter, Betty, provides that he will
give her $25,000 if she does not marry until after her 22nd birthday. One month after
reaching the age of 22, Betty, still unmarried, claims the $25,000.
Jim refuses to pay, claiming that the agreement was illegal. Is Jim correct?
On April 15, Morgan sent a letter to Clark offering to sell her business to Clark for
$200,000. The offer stated that it would expire on May On April 30, Morgan sent
another letter to Clark that stated that she was withdrawing the offer. Clark received that
letter on May 1. Also on April 30, Clark sent a letter to Morgan accepting the offer.
Morgan received that letter of acceptance on May 1. Morgan refused to sell the business
to Clark, claiming that no contract had been formed. Clark brought suit to enforce the
contract against Morgan. Based on what you have learned in this chapter, decide the
probable outcome of the case.
An instrument that originally was bearer paper always remains bearer paper.
An unlicensed doctor can sue a patient for the doctor's fee if the patient in fact
recovered because of the doctor's care.
When a nationally-known neurosurgeon in Chicago, Illinois sells her practice, the
contract may specify that the seller will not practice within a 100-mile radius of
Chicago for one year.
An assignment, if otherwise valid, takes effect the moment it is made.
In an action for breach of contract, the statute of limitations runs from the date on which
the harm is discovered.
If partial damage or total destruction occurs after the risk of loss has passed to a buyer,
it is the buyer's loss.
A constitution is the written document that establishes the structure of the government
and its relationship to the people.
A disclaimer that protects an accountant from liability for inaccurate reporting of
certain specified financial information will be held valid if the accountant had no means
of examining the information.
An express guarantee is governed by the UCC, and warranties are governed primarily
by the common law of contracts.
The standard for determining commercial impracticability is objective, not subjective.
Peter contracted to purchase five (5) cases of soda and a vacuum cleaner because Peter
was planning a party for his son's graduation. Both contract forms that Peter signed
contained exclusion of damages clauses; i.e., each contract stated that the buyer had no
right to sue the seller in the event that the goods were defective. Instead, each seller's
sole obligation was to replace or repair the defective goods within a reasonable time of
being notified of the defect(s). These clauses in the contract were set forth in the
ordinary type of the contract and were not especially conspicuous.
The vacuum cleaner was delivered on Friday, the day before the party, when the rugs in
Peter's home were quite dirty. The vacuum cleaner did not work properly. Peter notified
the seller, who responded by saying that nothing could be done until the following
week. Frantic because guests were coming, Peter hired a cleaning service to clean the
rugs.
While serving the soda to guests, one of the bottle caps burst from an unopened bottle
with great force. It struck Peter in the eye and he required medical treatment and
hospitalization.
Eventually, Peter sued both sellers for damages. Peter sought the expense of the
cleaning service from one. From the other, Peter sought damages for personal injury,
including his medical and hospitalization expenses. Both defendant-sellers cited the
exclusion of damages clauses as their defense.
